If so, which life insurance company is the best?
Actually, you may have several very good life insurance companies to choose from when it comes to buying life insurance for your parents.
Several highly-rated insurers may offer life insurance for seniors, including Colonial Penn, Mutual of Omaha, and Globe Life insurance, among others.
In order to buy life insurance on another person their must exist Insurable Interest between the owner of the life insurance and the person you want to insure.
There does exist insurable interest between parents and their children.
However, in order to buy life insurance on your parents you will need their consent and permission, their signatures, and they may have to answer some health questions, and perhaps take a physical examination.
You can compare life insurance quotes for your parents online to help you find the most affordable options. Or, you may want to consider life insurance with no medical exam from a company like Globe Life.
Globe Life Insurance offers people age 78 and under up to $30,000 of simplified life insurance with no medical exam required.